Speaker 1: Hey everybody, Welcome into the Thinking Crypto podcast. You're home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward
Speaker 1: on your weight and please sit that subscribe button as
Speaker 1: well as a thumbsup button and leave a comment below.
Speaker 1: If you're listening on a podcast platform such as Spotify
Speaker 1: or Apple, please leave a five star rating and review. Folks.
Speaker 1: Lots happening on the charts and price action today. Bitcoin
Speaker 1: currently trading at over one hundred and fifteen thousand dollars,
Speaker 1: so we saw a big move today and this was
Speaker 1: important because it's showing the bulls are grabbing the momentum.
Speaker 1: And if we look at the Bitcoin daily chart, we
Speaker 1: see the MACD has flipped bullish. This is what we
Speaker 1: discussed in yesterday's episode, and now we have two solid
Speaker 1: green bars on that MACD, so bulls are in control
Speaker 1: right now. The RSI and the daily shows there's still
Speaker 1: room for the price to run up before we hit
Speaker 1: the overbought zone. So we got some more upside here.
Speaker 1: But the important part was the weekly closed. The weekly
Speaker 1: clothes that we got today was very good. It was
Speaker 1: over one hundred and thirteen thousand, four hundred dollars. This
Speaker 1: was something many different traders and analysts were highlighting that
Speaker 1: Bitcoin needed a weekly close above this price point, to
Speaker 1: close above the twenty week SMA. So very good sign.
Speaker 1: Now I'm not here cheerleading that, oh man, we're gonna
Speaker 1: pump to one hundred and fifty thousand next week. No, no, no,
Speaker 1: we got work to do here. Bitcoin has work to do.
Speaker 1: We need more confirmation because the market can certainly fake
Speaker 1: us out. But I'm going to share some other factors
Speaker 1: that are very good. We've been seeing that the SMP
Speaker 1: five hundred has been hitting new all time highs, so
Speaker 1: this is very good. That Matt d on the daily
Speaker 1: for the SMP five hundred also flipping bullish. And as
Speaker 1: we've been discussing over the past few weeks, gold has
Speaker 1: topped out here. Now whether that's a local or blow
Speaker 1: off top, I don't know. We'll have to wait and see.
Speaker 1: But nevertheless, rotational liquidity is happening. Notice that when gold
Speaker 1: topped out, the SMP five hundred hit a new all
Speaker 1: time high, and now bitcoin's running again. Do you see
Speaker 1: the thesis? Right? We're just looking at data here and
Speaker 1: a lot of people still don't grasp that we are
Speaker 1: in a macro bull market for all assets. They're very
Speaker 1: tunnel vision focus, hyper focus on crypto, and I get it,
Speaker 1: that's where your money is. But you have to understand
Speaker 1: the bigger picture of what's moving these markets, and that's
Speaker 1: the debasement of currency, the liquidity. Global liquidity going up
Speaker 1: because central banks are printing, so you have inflation with
Speaker 1: the prices of goods, but also the inflation of the
Speaker 1: prices of assets. But they don't all move at the
Speaker 1: same time. Each has its day in the sun, so
Speaker 1: to speak. Right, So gold has been ripping, you know,
Speaker 1: real estates at all time highs as well cryptostocks and
Speaker 1: much more. So we're in the everything bubble, if you
Speaker 1: want to call it that. But crypto, as Paul Trugione said,
Speaker 1: is the fastest horse in the race. So once again
Speaker 1: you have that correlation between gold and crypto. I wrote
Speaker 1: about this in my newsletter and much more. Guys, all
Speaker 1: the data is there. Go sign up for my free
Speaker 1: email news that are a link would be in the description.
Speaker 1: So again we're seeing that rotation that's very good. And
Speaker 1: you know, individual stock indexes in addition to the S
Speaker 1: and P five hundred are breaking out, such as the Rustle,
Speaker 1: So that's very good, and in fact, Etherorem's chart has
Speaker 1: an identical structure to the Rustle right now, so we
Speaker 1: need to see ethereum breakout and enterprise discovery, and I
Speaker 1: believe the rest of the all coin market will follow.
Speaker 1: So we often track Total three, which excludes Bitcoin, Etherorem,
Speaker 1: and stable coins, and we see that has been on
Speaker 1: the rise, but obviously pulled back due to the corrections
Speaker 1: we've seen over the past month or so. So Bitcoin
Speaker 1: leads the market, and then you have rotation from Bitcoin
Speaker 1: down to Ether and then to the rest of the
Speaker 1: all coin markets. I don't make the rules, that's just
Speaker 1: the data that those are the facts. So whether you
Speaker 1: like bitcoin either whatever, that doesn't matter. What matters is
Speaker 1: the reality of the situation and what's taking place here.
Speaker 1: So again, folks, I've been talking about this for years, right,
Speaker 1: We've been talking a lot about it, despite floodsters, people
Speaker 1: getting emotional. Just the data, right, and a lot of
Speaker 1: these things I shared at the beginning of the year
Speaker 1: with the tariff crash. Then the other factor that we've
Speaker 1: been highlighting is bitcoin dominance that has not collapsed like
Speaker 1: we've seen the previous tops of the prior bull markets,
Speaker 1: so we're waiting for that waterfall collapse down and it
Speaker 1: hasn't happened. We've had periodic pull drops, you know, where
Speaker 1: we had rallies like in Q one and Q two
Speaker 1: of twenty twenty four, then Q four of twenty twenty four,
Speaker 1: obviously over the summer July into August where bitcoin hit
Speaker 1: a new all time high. But we have not had
Speaker 1: that massive collapse. So that is still on deck, and
Speaker 1: that's one of the factors that we're going to look
Speaker 1: at when we're saying, hey, the top is near right,
Speaker 1: because if that starts breaking down significantly, we're going to
Speaker 1: have to, you know, take action accordingly. Same same thing
Speaker 1: with USDT dominance. Now something big that is happen happening today.
Speaker 1: We're seeing a lot of progress with the US China
Speaker 1: tariff situation. You know, a bunch of factors I've been
Speaker 1: outlining on this podcast as well as in my newsletter
Speaker 1: is that there are some macro factors that are aligning
Speaker 1: here as huge narratives to go with the market. The
Speaker 1: bull market continuing to a blow off top and that
Speaker 1: is one US China tariff resolution. So it seems like
Speaker 1: we're having we're getting that. I'll give you the details
Speaker 1: after this. Number two, US government reopens. Number three FED
Speaker 1: continues to cut rates, and in fact, the FED funds
Speaker 1: of futures markets here on CME shows that there's about
Speaker 1: a ninety seven ninety eight percent percentage that the FED
Speaker 1: is going to cut this week. We're going to hear
Speaker 1: in October twenty ninth, of course. And then just recently
Speaker 1: we got a signal from Jerome Powell that the FED
Speaker 1: is going to ramp down quantitative tightening, and we know
Speaker 1: quantitative easing is following that. Number four clarityac the crypto
Speaker 1: market structure build passing the Senate, and number five the
Speaker 1: SEC approves the individual all coin tts for XRP and
Speaker 1: much more so, folks. All of these things are on
Speaker 1: the horizon here. So this is why I am not bearish,
Speaker 1: not yet at least right I haven't seen the true
Speaker 1: euphoria parabolic move. No bull market ends in fear. And
Speaker 1: this is where you know people are just simply forgetting.
Speaker 1: They're just caught up in the emotions of what's happening
Speaker 1: now versus let me step back and look at the
Speaker 1: grand picture, the macro and I've been preaching macro for
Speaker 1: a long time, and I hope I'm getting through to
Speaker 1: some of you guys to start looking at the market differently.
Speaker 1: So Scott percent US Treasury Secretary, you know, he said
Speaker 1: they have a substantial trade framework with China and it
Speaker 1: has been reached. So we got positive statements from both
Speaker 1: China and the US today. Trump is going to meet
Speaker 1: with President g this week. So Scott Pissent said, President
Speaker 1: Trump gave me a great deal of negotiating leverage with
Speaker 1: the threat of one hundred percent tarifts on November first,
Speaker 1: and I believe we have reached a substantial framework that
Speaker 1: will avoid that and allow us to discuss many other
Speaker 1: things with the Chinese. So I think this is coming
Speaker 1: to a resolution. Is its sign seal delivered yet? Of
Speaker 1: course not right. This is why I said I'm not
Speaker 1: celebrating yet. I want to see a lot of these
Speaker 1: things resolve, and I want to see bitcoin blast through
Speaker 1: the old all time high of one hundred and twenty
Speaker 1: six twenty seven thousand dollars. Then I'm going to start
Speaker 1: partying a bit, right if you get what I'm saying.
Speaker 1: Right now, we are digging our way out of this hole,
Speaker 1: and we have to build support levels, and there's going
Speaker 1: to be volatility. So please understand, I'm not saying call
Speaker 1: home and tell everybody that we're pumping to the moon
Speaker 1: next week. The no, No, that's not what this update
Speaker 1: is about. It's to let you know we're seeing positive signs.
Speaker 1: We're moving up slowly but surely, and we have some
Speaker 1: big macro factors on the horizon. But things are starting
Speaker 1: to look very good, folks. So patience is the key,
Speaker 1: my friends, patients, patients, patients. Here's what Tom Leem, who's
Speaker 1: had some great calls you know this bull market cycle,
Speaker 1: had to say regarding the news about the US and China.
Speaker 1: He says, positive development with US and China trade relations.
Speaker 1: He says up for equities, this includes the S and
Speaker 1: P five hundred QQQ and much more. He says up
Speaker 1: for a supercycle ethereum, up for bitcoin. So he is bullish,
Speaker 1: and you know yesterday we reported that he expects the
Speaker 1: year to end in a big rally for stocks in crypto. Now,
Speaker 1: whether that's a blowoff top or a local top, we'll
Speaker 1: have to keep monitoring the metrics and the data, like
Speaker 1: bitcoin dominance, like the Bitcoin PI cycle top indicator, like
Speaker 1: what bigcoin whales are doing based on on chain data?
Speaker 1: Are they dumping? You know? Is that line on the
Speaker 1: chart going down in a big down trend? Right, We're
Speaker 1: gonna look at USDT dominance. How far down have we broken?
Speaker 1: So these items, in addition to others, is what we're
Speaker 1: going to use to validate what the hell is happening.
Speaker 1: And you know, how should we execute as far as
Speaker 1: profit taking? So, folks, again, great signs. Bulls are capturing
Speaker 1: the momentum. We need to capture the weekly for bitcoin.
Speaker 1: But dealies in control of the bulls. The monthies in
Speaker 1: control of the bulls. So I like what I'm seeing here.
Speaker 1: Let's see what this week brings us now, folks, A
Speaker 1: great place where you can buy, sell, and stake your
Speaker 1: crypto assets is on Uphold. Uphold is a great platform
Speaker 1: I've been using since twenty eighteen. They have three hundred
Speaker 1: plus cryptocurrencies and they also offer staking on twenty plus
Speaker 1: crypto assets. And best of all, folks, they are fully reserved.
Speaker 1: They don't commingle or lend out your crypto assets. I
Speaker 1: personally never had an issue with them. They're reliable and
Speaker 1: you can review their transparency report on their website. So
Speaker 1: they have a lot of transparency and openness there where
Speaker 1: you can see what they're doing. In addition, they have
Speaker 1: a great rewards program called Uphold Rewards where you can
Speaker 1: earn up to five point twenty five percent on stable coins.
Speaker 1: You can also get twenty four hour early access to
Speaker 1: new tokens that they list. And these stable coins they
Speaker 1: support includes Ripples, r L, USD you can earn up
Speaker 1: to five percent there and USBC you can earn up
Speaker 1: to five point two five percent there. And in order
Speaker 1: to participate, simply have to open the app once per month,
Speaker 1: deposit fifty dollars once per month, and trade fifty dollars
Speaker 1: once per month. So very simple, and they have a
Speaker 1: ton more other features guys, that you can check out.
Speaker 1: So once again, I'm a user of this platform, have
Speaker 1: been for years. So if you'd like to learn more
Speaker 1: about Uphold, check out the link in the description. Now, folks,
Speaker 1: we have some very big news around XRP and Ripples.
Speaker 1: So XRP Ledger validator sees NFT to NFT trading potential
Speaker 1: in proposed batch amendment, so this is interesting. The proposed
Speaker 1: batch amendment for the XRP Ledger introduces atomic transaction capabilities.
Speaker 1: This amendment is particularly beneficial for NFT trades, enabling seamless
Speaker 1: NFT to NFT swaps in a single transaction, to insurer
Speaker 1: security and automative see I've never heard of that. According
Speaker 1: to a validator, the BATCH amendment has reached sixty eight
Speaker 1: point five to seven percent consensus among validators, with eighty
Speaker 1: percent required for activation. So we continue to see developments
Speaker 1: on the XRP Ledger and in addition to other blockchains.
Speaker 1: Right everybody's fine tuning adding new features. So this is
Speaker 1: really great atomic transaction capabilities, and that's a great feature
Speaker 1: that only blockchains enabled to have that atomic settlement, and
Speaker 1: I think it's it's going to be the game changer
Speaker 1: for how tradfy and the economies and much more transact
Speaker 1: with each other moving forward. I've often stated the markets,
Speaker 1: the economies, and the governments will all be running a
Speaker 1: blockchain rail, so you need atomic settlement. So this is
Speaker 1: really great moving ahead, we got some updates around Solana here.
Speaker 1: Solana's Marinade Labs CEO eyes lower barrier to entry for
Speaker 1: validators after the ALP and Glow upgrade, so similar to
Speaker 1: the XRP Ledger was seeing some up rates here for Solana.
Speaker 1: So Solana's upcoming OUP and glow upgrade could mark a
Speaker 1: turning point for the network staking economy. Coindest sat down
Speaker 1: with Michael Repetini, CEO of Marinate Labs, the firm that
Speaker 1: supports Solana's liquid steaking protocol Marinade, to discuss how the
Speaker 1: update aims to change the economics of running a validator
Speaker 1: on Solana, significantly lowering the barrier to entry. As the
Speaker 1: Solana ecosystem prepares for an upgrade at the end of
Speaker 1: this year or in early twenty twenty six, Repidney shares
Speaker 1: his thoughts on how this shift could expand validator participation
Speaker 1: and improve decentralization even as higher hardware demands loom. So
Speaker 1: this is really great guys. Again, we're seeing progress around
Speaker 1: around the major chain. So both XRP, the xrpre ledger
Speaker 1: and Solana are both top top five assets, right in
Speaker 1: the top ten. So this is what you want to see,
Speaker 1: continued innovation and expansion and much more. Now, final news
Speaker 1: item here, coinbase wants to bring the entire startup life
Speaker 1: cycle on chain. CEO Brian Armstrong says, so coinbase continues
Speaker 1: to make a lot of progress. Yesterday we talked about
Speaker 1: their potential new token on base, you know, similar to
Speaker 1: the binance BnB token, right, and I mentioned, you know,
Speaker 1: that is something I may want to invest in given
Speaker 1: the size of coinbase, its brand, being the largest crypto
Speaker 1: exchange in the United States. And look, you just look
Speaker 1: at the performance of B and B and I wish
Speaker 1: I bought that, you know, a while back. But I
Speaker 1: think we have that opportunity here with Coinbase. So Coinbase
Speaker 1: CEO Brian Armstrong has outlined an ambitious plan to move
Speaker 1: every stage of a startups journey from incorporation, to fundraising
Speaker 1: and public trading onto the blockchain. This would be huge, guys,
Speaker 1: and I definitely see this all going on the blockchains. So,
Speaker 1: speaking on the TBPN podcast, Armstrong described his vision for
Speaker 1: an on chain life cycle where founders could incorporate their startups,
Speaker 1: raise seed rounds, receive instant capital in USDC, and eventually
Speaker 1: go public around the tokenized equity. Here's a quote. You
Speaker 1: can imagine this whole life cycle coming on chain, he said,
Speaker 1: adding that such a shift could increase the number of
Speaker 1: companies who go raise capital and get started out there
Speaker 1: in the world. So Armstrong said startups will no longer
Speaker 1: need banks or lawyers to handle global transfers, as funding
Speaker 1: can be raised instantly through on chain smart contracts. Once
Speaker 1: capital arrives, founders can start generating revenue, accepting crypto payments,
Speaker 1: access financing, and even take their companies public directly on chain.
Speaker 1: What he's saying here is the future. Larry Fink and
Speaker 1: Black Rock and Wall Street already gave you the signal.
Speaker 1: The future of finance is on chain. It's tokenization. Right.
Speaker 1: So you imagine being a founder and you have an
Speaker 1: idea and you want to build a company. You can
Speaker 1: do that on chain and open to a global market
Speaker 1: with people who can participate, And there's no longer the
Speaker 1: you have to be a hedgephorn or an accredited investor.
Speaker 1: You can be some random dude in Latin America or
Speaker 1: some country in Africa, or in India, wherever, somewhere in
Speaker 1: Europe and you can participate. You can back that founder
Speaker 1: because you like their idea, right, and you would get
Speaker 1: a share in this form of a token. And in you,
Speaker 1: as the entrepreneur, the builder of the company, you know
Speaker 1: you can do so much more, raise capital, get more
Speaker 1: people to participate, so so many new opportunities here with
Speaker 1: this technology, and it's just game changing. So the world's
Speaker 1: going to change, folks. So this is why I keep
Speaker 1: saying this almost every podcast episode. I'm not just bullish
Speaker 1: on this cycle, but the future cycles as well. And
Speaker 1: that's why when the bear market rolls around, I'm going
Speaker 1: to be backing up the truck, buying as much as possible,
Speaker 1: sitting back and being patient, right and waiting for the
Speaker 1: next bull market all the tops again. And that's what
Speaker 1: I'm doing right now, in full transparency. My portfolio is up, guys.
Speaker 1: I'm not if I would have to sell right now,
Speaker 1: I would be in some very good profits right but
Speaker 1: I know based on the data there's a bit more upside,
Speaker 1: so I want to grab a bit more of that now. Obviously,
Speaker 1: no one can call the exact tops that we want
Speaker 1: to ladder out, and I'll be telling you, guys where
Speaker 1: I'm taking profits out. Of course, I've not taken any
Speaker 1: profits as yet, not on Bitcoin. My first price target
Speaker 1: I have in my sheet that I'm tracking all this
Speaker 1: is about one hundred and thirty five, and you know,
Speaker 1: I'll be laddering out as we go higher one forty
Speaker 1: five fifty YadA YadA, right, and the same thing for
Speaker 1: Etherorem Salona XRP as well. So I'll be letting you
Speaker 1: guys know when I see the signals flashing. Now, as always,
Speaker 1: I don't cult follow me, you know, listen to different
Speaker 1: point of views. I'm human, I may get things wrong,
Speaker 1: but I hope you appreciate that. I'm pointing you to
Speaker 1: the facts and the data and not only looking at
Speaker 1: but looking at on chain data and the macro. I
Speaker 1: think a lot of chart guys they get blinded by
Speaker 1: simply the charts, and it's like, hey, there's other factors
Speaker 1: you have to look at here that are driving markets.
Speaker 1: So we want to look at the market holistically. We
Speaker 1: want to be as educated as possible. So I hope
Speaker 1: you guys appreciate that. All right, folks, that's the news.
Speaker 1: Let me know what you think. Leave your thoughts and
Speaker 1: comments below, hit the thumbs up button, and if you
Speaker 1: appreciated this content, please subscribe to my free email newsletter.
Speaker 1: It is one hundred percent free. Link will be in
Speaker 1: the description. Check out my book on Amazon it's available
Speaker 1: in paperback and digital, and my course at Mycrypto course
Speaker 1: dot com. This is a comprehensive course that teaches you
Speaker 1: everything about crypto. So, folks, thank you so much for
Speaker 1: tuning in. I appreciate you all, and I'll talk to
Speaker 1: you all later